Vail Resorts which owns Vail, Breckenridge, Beaver Creek and Keystone in Colorado as well as Heavenly in California has reported business down for the 2008-9 season.
Figures to April 12, 2009, for the Company’s five mountain resorts were down 6.2% compared to the prior year season to date period ending April 13, 2008 for skier visits. Lift ticket revenue for the same period was down 8.7% and bookings for the 2008/2009 ski season through the Company’s central reservations and directly at the Company’s owned and managed properties as of March 31, 2009, were down 12.8% compared to the same period last year.
Commenting on the figures, Rob Katz, Chief Executive Officer said, “Our season to date metrics … experienced a slight decline in the trends compared to the prior interim season statistics released through March 1, 2009, as compared to March 2, 2008, with total lift revenue down 8.7% versus the 8.0% reported for the March 1, 2009, season to date period. … This was attributable to a deterioration in our ski season metrics during the last two weeks of March 2009, where the close-in booking pattern, which had been strong throughout the winter ski season did not materialize to the same degree. This was partially offset by a recovery in our ski season metrics in April 2009, with Easter occurring on April 12, … and with favourable snow conditions at our Colorado resorts.”
Commenting on Epic Season Pass sales, Katz continued,
On March 11, 2009, we announced the return of the Epic Season Pass for the 2009/2010 ski season. We are very pleased with the number of 2009/2010 Epic Season Passes sold to date, which is already significantly exceeding the number of Epic Season Passes sold in the entire prior year spring sales period through May 31, 2008.”
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